Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately positive: FWONK has an average “Moderate Buy” rating from eight analysts, split evenly between buy and hold recommendations. The average 12-month price target is $118, with several brokerages recently raising their targets.
• Shares have gained and trade near their 12-month high: FWONK opened at $104.94, up 0.7%, compared with a 12-month range of $80.15 to $109.36. Its 50-day and 200-day moving averages are $97.79 and $91.17, respectively.
• Recent results fell short of expectations: The company reported quarterly EPS of $0.02 versus a $0.24 consensus estimate and revenue of $934 million versus expectations of $952.78 million. Insiders also sold shares, while institutional investors own 92.26% of the stock.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $118.00.

A number of brokerages have recently issued reports on FWONK. Guggenheim lifted their price target on Liberty Media Corporation - Liberty Formula One Series C from $125.00 to $134.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Sanford C. Bernstein increased their price objective on Liberty Media Corporation - Liberty Formula One Series C from $115.00 to $119.00 and gave the company an "outperform" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. raised their price objective on Liberty Media Corporation - Liberty Formula One Series C from $124.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, August 7th. UBS Group lifted their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $104.00 to $110.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company upped their target price on shares of Liberty Media Corporation - Liberty Formula One Series C from $97.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th.

Insider Activity

In related news, insider Renee L. Wilm sold 11,597 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the transaction, the insider directly owned 15,590 shares in the company, valued at approximately $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Chase Carey sold 100,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the transaction, the director owned 94,356 shares in the company, valued at $8,518,459.68. The trade was a 51.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.31% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FWONK. Invesco Ltd. grew its position in shares of Liberty Media Corporation - Liberty Formula One Series C by 51.0% in the second quarter. Invesco Ltd. now owns 504,313 shares of the company's stock valued at $52,701,000 after purchasing an additional 170,435 shares in the last quarter. Cresset Asset Management LLC purchased a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth approximately $502,000. Daiwa Securities Group Inc. boosted its stake in Liberty Media Corporation - Liberty Formula One Series C by 20.2% during the second quarter. Daiwa Securities Group Inc. now owns 37,335 shares of the company's stock worth $3,902,000 after buying an additional 6,285 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Liberty Media Corporation - Liberty Formula One Series C during the second quarter worth $1,863,000. Finally, Squarepoint Ops LLC purchased a new stake in Liberty Media Corporation - Liberty Formula One Series C in the 2nd quarter valued at $1,255,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation - Liberty Formula One Series C Trading Up 0.7%

FWONK stock opened at $104.94 on Friday. Liberty Media Corporation - Liberty Formula One Series C has a 12-month low of $80.15 and a 12-month high of $109.36. The stock has a market cap of $23.54 billion, a price-to-earnings ratio of 154.32 and a beta of 0.43. The business's 50-day moving average is $97.79 and its 200 day moving average is $91.17.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The business had revenue of $934.00 million during the quarter, compared to the consensus estimate of $952.78 million. As a group, equities analysts forecast that Liberty Media Corporation - Liberty Formula One Series C will post 2 EPS for the current fiscal year.

About Liberty Media Corporation - Liberty Formula One Series C

Liberty Media Corporation - Liberty Formula One Series C NASDAQ: FWONK is a tracking stock that represents Liberty Media's economic interest in the Formula One Group, the commercial operator of the FIA Formula One World Championship. Liberty Media is a diversified media and entertainment company that owns and manages a portfolio of media, communications and entertainment businesses. The Formula One Group conducts the commercial activities of one of the world's largest motor sports properties, packaging live races, media rights, sponsorships, licensing and related consumer products around a global sporting calendar.

The Formula One business comprises the sale and distribution of broadcast and digital media rights, race promotion and event management, sponsorship and brand partnerships, merchandising and licensing, and direct-to-consumer digital products and services.

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